Day Trading

[Jigglebelly]

Does anyone on the board do any day trading in the US market from the DR? Know somebody who does?

The info, that I am trying to get at, is whether or not the DR has a good enough electronic and internet infrastucture to support day trading. The main thing is to insure that trades can be executed quickly enough to keep up with the market.

Thanks

 

[Escott]

I have done a lot of trades from the DR right from Internet cafes. Make sure you delete your cookies when doing financials from strange computers.

 

[DCfred]

Gosh, day trading? I guess some people have not learned their lesson...

 

[DunHill]

Hi,

A good internet connection is possible, see at http://dunhill.2y.net.


Arjan

 

[lhtown]

I have never tried day trading nor do I think I could make any money at it(I doubt you could either...but that is another story and I don't even know you). I would suppose that you could get decent enough connections. However, you might want to have a backup connection if you are really doing risky stuff with a lot of money. For instance, if you make a move on a stock that you think might go up let's say in the next hour or day, but down drastically from there on, exactly what are you going to do when you buy into it heavily, then your computer gets hit by a voltage surge, the power goes out, your ISP stops ISPing and your phone is also on the blink leaving you unable to dump your holding? Unlikely? to that extreme, sort of, but you might want to be prepared if it is that important to you. There are ways to have have emergency backups of just about everything here including ISP's.

 

[tht]

This one is deleted.

 

[tht]

1) Make sure you have backup power supply.
2) A backup ISP can be handy, phonelines usually good enough.

And in case you don't know.
3) Learn how to read the market. Don't put your money in a trade if it's based only on somebody elses recommendation (they are usually crap).
4) Learn money and risk management, overtrading will eat your trading account.
5) A traders biggest enemy is not the market but greed, pride and fear. Learn how to get out of a losing trade.

Good luck

And BTW, commodity currencies is a good sell if the stock market picks up, NZD and AUD (back to 0.55), not sure about CAD.

 

[Jigglebelly]

thanks

Thank you all very much for the replies. They were most helpful. If I am interpeting them all correctly, then the challenge is not so much getting enough bandwidth as being able to keep my lights on while trading.

As to the risks associated with day trading itself, I am fully educated. I have been very successful as a long term investor. Successful enough to lose all that I intend to earmark for this adventure without causing me any hardship. I have been studying up on day trading and intend to study even more. Still, I fully expect to bleed money until I am either smart enough to give up or experienced enough to make a profit.

Yes, maybe I should visit Las Vegas instead. Still, I would like to try my hand. It may keep me busy and be very educational.... and expensive, no doubt.

 

[Jayford]

trading DR

I'm in the process of moving to the DR in about two months, and will also be trading while there. I've decided to just pay a little extra for a pad with DSL and backup power. Net cafes don't cut it, and aren't open early enough anyway.

Note, please don't send any replies about losing my money, etc. I've been doing this for 16 years full time and find such comments ridiculous when they come from people who have never even tried the biz. Not everyone loses. The money doesn't just disappear. It goes somewhere.

Cheers,


Jay

 

[Captdavid]

I have a new laptop, mouse, keyboard, battery backup, inverter power & codetel "FLASH". They are perfect for day trading using my Schwab account. Before I got all this hooked up I was using an internet cafe and since the markets open an hour earlier than our time I had prenty of time at the cafe.

In todays market it's been hard to lose. Gook luck. Things are great in the DR. I'm from Miami and Michigan.

 

[Jayford]

cafe hours

I trade forex and bond futures. They open WAY earlier than stocks. Forex is 24 hrs actually, but I trade at the 7 to 8 am EST shift. Cafes won't work for that. I also need multiple monitors.

Until I am hooked up however, does anyone know if a net cafe will let me use my own laptop to download data, etc?

Thanks,

Jay

 

[MrMike]

Most internet cafe's here are pretty much mom & pop style businesses, and should have no problem letting you use your own equipment, especially if you are willing to pay the regular rate anyway.

The only problem is that many may just have a semi-retarded cashier on duty at a given moment, who likely will not have the necessary skills to find an open port on the hub and plug your lan cable in. In the odd case that your IP configuration needs to be changed then the situation could be even more complicated.

I recomend Rocky's in Sosua, they always let me plug in my laptop there. It's not really an internet cafe, but they have broadband, so it works.

 

[Jayford]

Great. thanks.

Rocky's sounds like quite the expat place. It is mentioned in almost every thread here.

Jay

 

[MrMike]

Well it's one of the only places you can go where all the chopos speak english.

 

[duane gettis]

Good Reliable Internet access ???

I am going to visit DR (La Vega) for two weeks. I am considering moving to DR and am interested very much in this discussion. Is it possible to get a dsl connection in La Vega? Would I have to live in another city? How expensive is it and what kind of process will I have to go through?

I know these may be basic questions for some of you but I can pretty much run my business from anywhere if I have good internet access, so it is essential info for me.

Any help would be appreciated

 

[BeachBum999]

Think twice before you jump in day trading

hi guys,

I don't want to discourage anybody but there is nothing to incourage with. I've been in day trading since 1999 - "gold times" of day trading. I even had a day trading office here in Brooklyn, NY. I was one of the owners and trade supervisors of that "money machine". The money that 96% of day traders loose do not go to the rest 4%, they go to the big guys whom you do not even see on your screens and they go to the brokers, because "the house always wins". It doesn't matter if you loose or win, as long as you make a move - you have to pay.

I'd love to move to DR one day. But I know for sure that I can't relay on the income from day trading. That is illusion (at least for me, and I was not that bad in that game).

I've seen too many people who lost a lot, even everything in that game. Paradise like DR is to enjoy life but not to be killed by stress.

Good luck to everybody,

Andi

 

[Seachange]

Day trading in the DR?

If you are going to "professionally" day trade, you might as well stay in the US or Canada. As those of you who engage in this activity know, it requires being riveted to a computer screen all day. Who in there right mind wants to do that in the Caribbean?

If staying glued to a computer screen all day is your thing, you might as well be in a place where your computer connection is dependable, great weather doesn't beckon you outside and there's great Chinese food delivery. :chinese:

 

[Mark1]

If you are going to "professionally" day trade, you might as well stay in the US or Canada. As those of you who engage in this activity know, it requires being riveted to a computer screen all day. Who in there right mind wants to do that in the Caribbean?

If staying glued to a computer screen all day is your thing, you might as well be in a place where your computer connection is dependable, great weather doesn't beckon you outside and there's great Chinese food delivery. :chinese:

Hi folks, I've been in this business since 1998 ( I have a T-shirt that says :I SURVIVED NASDAQ 2000 :rambo: ), far far away from me the idea to convince someone he/she can make money daytrading.
Anyway , regarding the problem of being all day tied to your PC, there are quite a few of companies wich are developing software for trading automation.

I've been using one of these programs for 6 months now, and I'm very happy with it.
It runs 3 systems I developed ,derivated from my "discretionary trading" experiences (that's the tough part of the game, coding, backtesting, optimization etc.).
Now all I have to do is turning on the PC and let the program do its job.
After six months, I even have the @@ or the irresponsibility (take your pick) to leave my home/office for a couple of hours.
When I'm home I don't even watch the screens anymore, I have just a couple of alarms to know when connections go down (isp-data feed-broker on line).

Well , If I can do it in Italy (where I live now),I think I can do it in DR as well, and even if you want to stay home during the market session without automation, I don't know why ..but I have the insane idea that you can have a good time spending your spare time on a caribbean island ...hmmmm

 

[jsizemore]

Internet cafes

I can not remeber what the name was but last year while there I saw an add for apartments at an internet cafe and they advertised for interent conection in the apartment for short term stays as well as long term. The cafe was owned by German spaekers on past the eropa hotel on the left. It is about half a block past scotia bank in sosua. I dont know if it helps but if you will be around Sosua it may be a short temr soilution.
John